Trump Admin: Economy Grew at 3% for Second-Straight Quarter

The economy grew at three percent or more for the second-straight quarter, the Bureau of Economic Analysis (BEA) announced on Friday. “Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the third quarter of 2017,” the BEA reported. “In the second quarter, real GDP increased 3.1 percent.” It’s the first […]

By NTK Staff | 10.28.2017 @12:00pm

The economy grew at three percent or more for the second-straight quarter, the Bureau of Economic Analysis (BEA) announced on Friday.

“Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the third quarter of 2017,” the BEA reported. “In the second quarter, real GDP increased 3.1 percent.”

It’s the first time the economy has grown at this rate in two consecutive quarters since 2014, when the economy grew at more than four percent in quarters two and three of 2014.

A month ago, when second-quarter GDP was revised up to 3.1 percent, President Trump tweeted “[w]e have just begun!”

GDP was revised upward to 3.1 for last quarter. Many people thought it would be years before that happened. We have just begun!

The economy may see a further boost if the GOP and President Trump follow through on promises to cut taxes. They made progress on that front when the House passed a budget on Thursday that paves the way for tax reform.